Which one of the following compounding periods will yield the smallest present value given a stated future value and annual percentage rate?

Which one of the following statements correctly states a relationship?    A.  Time and future values are inversely related, all else held constant. B.  Interest rates and time are positively related, all else held constant. C.  An increase in the discount rate increases the present value, given positive rates. D.  An increase in time increases the future value given a zero rate of interest. E.  Time and present value are inversely related, all else held constant. Refer to section 6.3

20.	Which one of the following compounding periods will yield the smallest present value given a stated future value and annual percentage rate?    A.  annual B.  semi-annual C.  monthly D.  daily E.  continuous Refer to section 6.3

21.	The entire repayment of which one of the following loans is computed simply by computing a single future value?    A.  interest-only loan B.  balloon loan C.  amortized loan D.  pure discount loan E.  bullet loan Refer to section 6.4